Brigade Enterprises Limited has announced that its subsidiary, Brigade Hotel Ventures Limited (BHVL), has declined from 95.26 percent to 74.09 percent of the Equity share capital of the BHVL, after the initial public issue (IPO) of BHVL. BHVL has allocated Rs 759.60 crore to successful bidders by issuing 8,44,12,565 equity shares on July 29, 2025, according to the RHP and Prospectus of July 28, 2025.
Lack of stake in BHVL is the result of the release of new equity shares to the public, in which Brigade Enterprises Limited has not received any reward. The amount raised through the IPO will be used by BHVL for its business requirements. Any promoter, promoter group or group companies of Brigade Enterprises Limited did not participate in the IPO.
Red Herring Prospectus (RHP) filed by Brigade Hotel Ventures Limited was in relation to its initial public issue with new Issues of Equity shares of face value of Rs 10 crore up to Rs 759.60 crore. The company received information in this regard from BHVL on 30 July 2025.